Report: “90% of Nations Are Planning Central Bank Digital Currency“

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A new report from the Bank of International Settlements estimates that up to 90% of national central banks are at least in the planning stages for launching a central bank digital currency (CBDC). First, CBDC was a response to Covid, then it could help halt climate change, and now it is a response to the war in Ukraine. Authorities have stopped talking about the ‘programmability’ of CBDC that would allow the issuer to set limits and controls over its use. Any CBDC would give a third party like the state, the central bank or the corporation issuing the money as wages the power to control how and where the money is spent.

A new report from the Bank of International Settlements estimates that up to 90% of national central banks are at least in the planning stages for launching a central bank digital currency (CBDC):

Nine out of 10 central banks are exploring central bank digital currencies (CBDCs), and more than half are now developing them or running concrete experiments. In particular, work on retail CBDCs has moved to more advanced stages

This echoes a March report from the IMF, which claimed over one hundred nations are at least in the planning stages of releasing their own CBDC.

You can read the entire IMF report here, or a summary published by Bloomberg here.

It seems programs of government-issued digital money have been gaining momentum all around the world since at least 2020, and apparently, now they exist in over half the countries on the planet.

The newest of these – Brazil and Namibia – announced their plans only last month.

As with all globalist agendas, the push for CBDCs is always part of “the current thing”.

First, it was a response to Covid. Then they could help us halt climate change. Then they’re a response to the war in Ukraine.

Using that method they have moved from a barely-discussed fringe idea to regular mainstream coverage and 90% of the world trying them out, all within the space of a couple of years (as we predicted they would in our New Years post)

Interestingly, while CBDCs are being talked about more and more, there is one specific feature of them which is being talked about less and less: Programmability.

Regular readers will be more than familiar with this concept – we discussed it in detail in our previous articles on CBDCS (here and here).

For those new readers: programmability is a hypothetical feature of digital currency which would allow the issuer to set limits and controls over its use.

Essentially, any CBDC would give either the state, the central bank or the corporation issuing the money as wages the power to control how and where the money is spent.

Any CBDC amounts to potential third-party control of your money.

It’s that simple.

Read full article here…

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Aunt Jemima
Aunt Jemima
6 months ago

If you adopt or accept Central Bank Digital Currency (CBDC) … you will be an abject slave. REFUSE.

Ragnar D.
Ragnar D.
6 months ago

In many ways to the current fiat currencies are already programmable. If the IRS decides that you owe them money, they will just go to your local bank manager and tell him to open up your account to them, and the bank manager will comply. If the govt doesn’t like your nation (Russia), it will just steal your dollar reserves. If your govt needs more revenue but doesn’t have the political will to raise taxes, it will just have the central bank print some more money which secretly steals your money via currency devaluation. We need to have money that… Read more »